The transformative shift from a deterministic perspective to a probabilistic perspective laid the foundation for data analysis. Every company is looking out for opportunities to turn more profit, to maximize business metrics, an ....see more
The High Performance Data Analytics (HPDA) market is estimated to grow from USD 25.71 Billion in 2016 to USD 78.26 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. The proliferation of open source frameworks (Hadoop) for big data analytics and the ability of powerful High Performance Computing (HPC) systems to process data at higher resolutions are the drivers that propel the growth of the HPDA market
The self-service Business Intelligence (BI) market size is expected to grow from USD 3.61 Billion in 2016 to USD 7.31 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period. The major growth drivers of the self-service BI market include ease of use for non-technical staff, increasing need for in-depth competitive insights, and expanding volume of business data.
The edge analytics market is estimated to grow from USD 1.94 Billion in 2016 to USD 7.96 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.6%. Advent of Internet of Things (IoT) & proliferation of massive amount of data through connected devices, and predictive & real-time intelligence on network devices acts as a catalyst to the growing adoption of edge analytics solutions and services.
The global user and entity behavior analytics market (UEBA) market is projected to grow from USD 131.7 Million in 2016 to USD 908.3 Million by 2021, at a CAGR of 47.1% from 2016 to 2021. Major drivers for the global user and entity behavior analytics market include increasing need to prevent insider threats posed by users, growing requirement for real-time analytics by various organizations, and shortage of trained security professionals. Major progress in machine learning technology and data analysis techniques is also driving the global user and entity behavior analytics market.
The service delivery automation market is estimated to grow from USD 1.82 Billion in 2016 to USD 6.31 Billion by 2021, at a high CAGR of 28.2% from 2016 to 2021. The market is driven by the need to go agile for faster time to service, and to replace or complement existing workforce with automation to deliver quality services. For service delivery automation vendors, tremendous opportunities lie in implementing advanced technologies, such as artificial intelligence and cognitive abilities, into their existing service delivery automation products. In case of service delivery automation solutions, one size doesn’t fit all.
The global content analytics market is projected to grow from USD 1.61 Billion in 2016 to USD 4.37 Billion by 2021, at a CAGR of 22.1% from 2016 to 2021, at a CAGR of 22.1% from 2016 to 2021. Content analytics are gaining a significant importance among the corporates, due to increasing usage of advanced analytics and competitive intelligence, and convergence of text analytics with big data. Hence, the adoption of content analytics tool in various industries is increasing, which is one of the major growth factors of the market.
Manufacturing analytics is a set of advanced analytical tools that help in generating insights from historical and present process data and identifying relationships and patterns from various manufacturing processes. The manufacturing analytics market size is estimated to grow from USD 3.14 Billion in 2016 to USD 8.45 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 21.9% from 2016 to 2021. 2015 is considered to be the base year while the forecast period is 2016 to 2021.
In today’s data driven world, one of the biggest challenges for the companies is to manage the rapidly generating, voluminous data. Along with this, the ever-increasing business demand for maximum flexibility of resources and the inevitable advancement of big data are encouraging the enterprises to adopt the predictive analytics model. It empowers an organization to identify untapped opportunities and expose hidden risks buried inside enormous amounts of data. With the availability of predictive insights to everyone in the organization, organizations are empowered to make the right choices at the right time and shape their future in a positive way.
MarketsandMarkets forecast the workforce analytics market size to grow from USD 422.5 Million in 2015 to USD 860.4 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 15.3% from 2015 to 2020. The increasing complexities at workplaces have necessitated the shift from traditional ways of managing workforce to the computerized ways of handling workforce functions for attaining higher efficiencies. The increasing competition also demands for efficient business operations across every organization domain, which can be achieved by managing the workforce that is ultimately responsible for every business activity within an organization. Thus, workforce analytics is changing the ways of streamlining human resources through greater analytical insights.
The insurance telematics market size is expected to grow from USD 857.2 Million in 2015 to USD 2.21 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 20.9%. Decreasing cost of connectivity solutions, increase in regulatory compliance and regulations, consumer’s interest for in-car connectivity, and rise in smartphone penetration are driving the insurance telematics market.
The mobile analytics market is broadly classified into types, such as mobile advertisement and marketing analytics, in-app behavioral analytics, application performance analytics, and others. Global mobile ad spending is experiencing exponential growth and this enables the surge in the mobile analytics solutions demand. The global mobile analytics market is expected to grow from USD 1.36 Billion in 2015 to USD 4.12 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 24.73%.
Business intelligence and analytics software has rapidly gained traction in the market and is considered to be the fastest growing industry in IT. Organizations are in dire need of tools that streamline their business process by quickly analyzing, optimizing, and managing the exponential increase in data. The global Business Intelligence Software Market is expected to grow from $17.90 Billion in 2015 to $26.78 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 8.4%. The global BI and analytics software market is expected to exhibit a Y-O-Y growth rate of 5.61% for the period 2014-2015.
The CRM analytics market is segmented by type: marketing analytics, sales analytics, contact-center analytics, customer analytics, web & social analytics; by vertical: BFSI, retail & consumer goods, telecommunications & IT, healthcare & life sciences, manufacturing, energy & utility, media & entertainment, travel & transport, and others; by end user: SMBs and large enterprise; by deployment: On-Premises, Cloud; by region: NA, APAC, Europe, LA, and MEA. The global CRM analytics market is expected to grow from $4.18 billion in 2014 to $7.65 billion by 2019, at an estimated Compound Annual Growth Rate (CAGR) of 12.83% from 2014 to 2019.
Today, organizations are operating in a vibrant business environment, and thus face dynamic changes in customer demands. The companies want to deep dive into, not only the current information related to their customers, products, services and business process, but they also want to draw insights from the historical data related to their past performances and learn about previous trends and pattern. Thus, there has been a substantial adoption of business analytics software and solutions among various industries for analyzing such trends and unfold new business opportunities and formulate strategies based on new insights. The overall business analytics market size is expected to grow from $40,814.6 million in 2014 to $66,719.8 million in 2019, at an estimated CAGR of 10.3%.
Marketing analytics comprises the process and technologies that enable marketers to evaluate the success of their marketing efforts. It is a practice of measuring, managing, controlling and analyzing the marketing performance in order to maximize the effectiveness and optimize the Return on Investment (ROI). The global marketing analytics software market to grow from $1.20 billion in 2014 to $2.10 billion by 2019.
The global oil and gas industry is at a crossroad over the depleting oil and gas reserves worldwide. New challenges arise and are addressed through conventional technologies. The rising global demand for fuel, increasing competition, financial capital and public scrutiny and regulations are a few of the severe challenges faced today.
The multichannel analytics market is expected to grow from $3.61 billion in 2014 to $9.89 billion by 2019 at a Compound Annual Growth Rate (CAGR) of 22.3% from 2014 to 2019. The multichannel analytics solutions collect different data generated from various channels and correlate it to give useful analysis. It is acknowledged as one of the most powerful tools that drives sales and profitability. The customers today have various channels to purchase which makes it necessary for vendors to create content more relevant to interact the customers at all the sources.
Today, large enterprises as well as the Small and Medium businesses (SMBs) rely largely on the digital data gathered through their web portals. This is because of the rising need of the digital marketers, advertisers and publishers to segment their premium buyers from other customers, track the overall website visitor traffic, manage ad campaigns and improve the complete website performance. Website analytics solutions cater to all these requirements and help the enterprises in reforming their business strategies and add to the online sales.